Chapter 9 Review

Chapter 9 Review - Chapter 9: Market Equilibrium and...

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Chapter 9: Market Equilibrium and Product Price: Imperfect Competition LEARNING OBJECTIVES Understand the key structural characteristics of competitive market behavior. Understand the pricing and production strategies of different types of imperfect market structures for producers, including monopolistic competition, oligopolies, and monopolies in both the short-run and the long-run. Understand the pricing and production strategies of different types of imperfect market structures for consumers including monopsonistic competition, oligopsonies, and monopsonies in both the short-run and the long-run. Graphically depict each type of imperfectly competitive market structure previously mentioned. Understand and graphically depict several types of government regulation dealing with imperfectly competitive market structures. CHAPTER SUMMARY The purpose of this chapter was to discuss the determination of the price and quantity experience under conditions of imperfect competition. The major points made in this chapter may be
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Chapter 9 Review - Chapter 9: Market Equilibrium and...

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